Cubic Corporation was founded in 1949 by
Walter J. Zable as an electronics company in
San Diego, California, and began operations in 1951. Zable devised the company name as he wanted the name to reflect both engineering and precision. Its first product was a calorimetric
wattmeter, a device used for measuring microwave output. It became a
publicly-traded company in 1959. In 1969, the company acquired United States Elevator Corporation, a maker of freight and passenger elevators. In early September 1984, Cubic moved its corporate domicile into
Delaware General Corporation Law. The move was completed on June 11, 1985. Cubic employs 6,200 people globally. Stevan Slijepcevic was named president and chief executive officer of Cubic Corporation in January 2022. In May 2021, Cubic announced the completion of its sale to the private equity firms
Veritas Capital and
Elliott Management, turning the publicly traded
New York Stock Exchange company into a
privately held company. In June 2023, Cubic wrote a letter to the Australian Victorian state premier, requesting a review of the tender process which awarded the state upgrade of its Myki system to its competitor
Conduent. In its letter, Cubic claimed its submitted bid was $100,000,000 less than the winning bid, and that procurement officers from the state government had not visited its operational sites. Cubic's preference for installing its own ticket readers was cited as a reason to consider its bid more expensive. On 4 March 2025, the People's Republic of China announced sanctions on 10 U.S. military-industrial companies, including Cubic, for participating in arms sales to Taiwan. == Company divisions ==